Insider Buying: Eldorado Resorts, Inc. (ERI) Insider Acquires 2,500 Shares of Stock
Eldorado Resorts, Inc. (NASDAQ:ERI) insider Thomas Reeg bought 2,500 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were acquired at an average price of $20.03 per share, for a total transaction of $50,075.00. Following the completion of the transaction, the insider now directly owns 46,200 shares in the company, valued at $925,386. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Eldorado Resorts, Inc. (NASDAQ ERI) traded up 2.96% on Monday, reaching $20.85. 364,583 shares of the company were exchanged. The stock has a 50 day moving average of $20.49 and a 200-day moving average of $17.92. The company has a market capitalization of $1.58 billion, a P/E ratio of 44.46 and a beta of 1.00. Eldorado Resorts, Inc. has a 52-week low of $10.65 and a 52-week high of $21.83.
Eldorado Resorts (NASDAQ:ERI) last issued its earnings results on Thursday, May 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.20 by $0.16. Eldorado Resorts had a return on equity of 7.95% and a net margin of 2.49%. The company had revenue of $200.90 million for the quarter, compared to analyst estimates of $209.75 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, analysts predict that Eldorado Resorts, Inc. will post $0.76 EPS for the current fiscal year.
ERI has been the topic of a number of analyst reports. BidaskClub cut Eldorado Resorts from a “strong-buy” rating to a “buy” rating in a research report on Saturday. TheStreet upgraded Eldorado Resorts from a “d+” rating to a “c” rating in a research report on Wednesday, May 17th. Zacks Investment Research upgraded Eldorado Resorts from a “strong sell” rating to a “hold” rating in a research report on Monday, May 8th. Finally, Imperial Capital restated an “outperform” rating and set a $24.00 target price (up from $21.00) on shares of Eldorado Resorts in a research report on Monday, March 13th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Eldorado Resorts currently has an average rating of “Buy” and a consensus target price of $21.50.
Hedge funds and other institutional investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new stake in Eldorado Resorts during the first quarter valued at approximately $140,000. PNC Financial Services Group Inc. raised its stake in Eldorado Resorts by 22.7% in the first quarter. PNC Financial Services Group Inc. now owns 15,880 shares of the company’s stock valued at $300,000 after buying an additional 2,940 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in Eldorado Resorts during the first quarter valued at approximately $312,000. American International Group Inc. raised its stake in Eldorado Resorts by 7.1% in the first quarter. American International Group Inc. now owns 17,642 shares of the company’s stock valued at $334,000 after buying an additional 1,170 shares in the last quarter. Finally, Tudor Investment Corp Et Al acquired a new stake in Eldorado Resorts during the fourth quarter valued at approximately $364,000. Institutional investors own 65.18% of the company’s stock.
About Eldorado Resorts
Eldorado Resorts, Inc is a gaming and hospitality company that owns and operates gaming facilities located in Ohio, Louisiana, Nevada, Pennsylvania and West Virginia. The Company’s segments are Nevada, Louisiana, Eastern and Corporate. As of May 1, 2017, the Company owned and operated approximately 503,000 square feet of casino space with approximately 20,000 slot machines and video lottery terminals (VLTs), over 550 table and poker games, 45 restaurants and 6,500 hotel rooms.
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